Aristide Economopoulos/The Star-LedgerRed Bull Arena, which opens with an exhibition match against Brazilian club Santos today, will be open for its first MLS game next Saturday, March 27, when the Red Bulls host the Chicago Fire.Major League Soccer and it's players avoided a strike by reaching an agreement on a new, five-year collective bargaining agreement today.

The two sides had been trying to reach agreement on the issues of guaranteed contracts and free agency within the league for players whose contracts have expired. They agreed to most player contracts being guaranteed, but stopped short of players winning free agency. Instead, players whose contracts expire or whose contract options are declined, will be subject to a re-entry draft.

The players' union had said on March 11 it would go on strike if an agreement was not reached before March 25, when the 2010 season is scheduled to open with a nationally televised match between the expansion Philadelphia Union and the Seattle Sounders. The two sides reached agreement early this morning after negotiating through the night.